February 22, 2012
Parlane Meets Commitment on Big Bear
 Vancouver, British Columbia - Further to its news releases of November 28, 2011 and February 15, 2012, Parlane Resource Corp. (the "Company") reports that it has met the cash payment of $200,000 due on its Property Option Agreement on the Big Bear Project.

The Big Bear project covers 31 claims on approximately 14,366 hectares located in the prolific Omineca Mining Division of British Columbia. The property is situated between two mineralized systems known as the Blackwater Gold Project and the Capoose property.

To complete the cash payment required on its Option Agreement, the Company secured a bridge loan financing of $210,000 (the "Loan") with a group of lenders comprised of certain insiders. The unsecured Loan is due and payable in 12 months, with interest payable at 10% per annum. Pursuant to Exchange policies, the Company has agreed to grant an aggregate of 300,000 common shares to the lenders as a bonus for extending the Loan to the Company, subject to Exchange acceptance.

ON BEHALF OF THE BOARD

Signed "Robert Eadie"
Robert Eadie, President, Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-602-4935
Facsimile: 1-604-602-4936
Contact: Robert Eadie

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
 
 

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